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ATMs to disburse new Currency Notes by early December as Recalibration of Machines needed: Finance Ministry

To cater to the requirement of rural areas, banks were advised to supply notes of smaller denominations (Rs 100 and less) as well as Rs 10 coins

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Indian Currency, Pixabay

New Delhi, Nov 13, 2016: The Finance Ministry said on Saturday that the ATMs will be able to disburse new currency notes only by early December as recalibration of the machines requires both hardware and software modifications.

“Recalibration (requires both software and hardware changes) of ATMs is going on, which will be completed by end of this month or early December. Other denominations will then be disbursed by ATMs,” a statement from Finance Ministry said.

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“Presently only Rs 100 notes are being disbursed from the ATMs. Out of 2 lakh ATMs, about 1.2 lakh are operational,” it added.

Taking stock of the issuance of new currency notes to the public, Finance Ministry said that a total of over seven crore transactions have taken place in less than three days after the demonetisation was announced.

“A total of over 7 crore transactions have taken place from November 9 up to mid-day of November 12 (i.e. in the last two and a half days) for deposit, exchange of old notes and withdrawal from ATM and over the counter,” it said.

“Old notes of Rs 500 and Rs 1000 denominations amounting to about Rs 2 lakh crore have been deposited to banks,” it said.

Ministry of Finance along with Reserve Bank of India (RBI), Indian Banks Association (IBA) and a few major banks participated in the review meeting on Saturday to take stock of the cash availability, it said.

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“There is sufficient cash available with RBI and Banks. They were advised step up the supply of cash to the public,” the statement said.

The availability of cash and issuance of cash to bank branches and post offices on a daily basis is being constantly monitored and necessary rebalancing being done for more efficient allocation of banknotes of requisite denominations between different areas, it said.

To cater to the requirement of rural areas, banks were advised to supply notes of smaller denominations (Rs 100 and less) as well as Rs 10 coins, it added.

One of the primary objectives of cancellation of legal tender character of old series of Rs 500 and Rs 1000 notes was to check the menace of terror financing through counterfeit currency notes. The receipt of counterfeits currency notes is being monitored closely.

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RBI has been advised by the government to set up a special cell to monitor the receipt of fake currency notes and inform such instances to the Economic Offences Wing of the state police, enforcement agencies of the Central Government and also to the Ministry of Finance.

“The law enforcement agencies have also been advised to maintain close vigil over possible movement of fake currencies and take prompt action as and when such cases are detected by them as well as by RBI and banks,” it said. (IANS)

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Prime Minister Narendra Modi Stresses Cooperative Federalism for Ganga Rejuvenation

The meeting was attended by Union Ministers for Jal Shakti, Environment, Agriculture and Rural Development, Health, Urban Affairs, Power, Tourism, Shipping, and the Chief Ministers of UP and Uttarakhand, the Deputy Chief Minister of Bihar, the Vice-Chairman of the Niti Aayog and other senior officials

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Indian Prime Minister Narendra Modi. Wikimedia Commons

Prime Minister Narendra Modi has said the River Ganga rejuvenation should be an example of cooperative federalism and it has been a long-pending challenge.

The Prime Minister made this observation at the first meeting of the National Ganga Council in Kanpur, UP, on Saturday. The meeting was aimed at reinforcing the importance of a Ganga-centric approach in all departments of the states concerned as well as relevant central ministries.

He also asked for formation of a digital dashboard where data from villages and urban bodies would be monitored on a daily basis by the Niti Ayog and the Ministry of Jal Shakti. All districts bordering Ganga should be made a focus area for monitoring efforts under the Namami Gange project, he said.

Modi said a lot had been accomplished since the government took up ‘Namami Gange’ in 2014 as a comprehensive initiative, integrating various government efforts and activities, with the aim of reducing pollution, and conservation and rejuvenation of Ganga.

Notable achievements had been zero waste creation by paper mills and reduction in pollution from tanneries, he said and added, but a lot was required to be done.

River Ganga is one of the holiest, yet the most polluted river.
River Ganga is one of the holiest, yet the most polluted river. Wikimedia Commons

The Prime Minister emphasised that improvement would require full cooperation from the public at large and greater awareness through dissemination of best practices from cities situated along the banks of national rivers.

“For the first time, the central government has made a commitment of Rs 20,000 crore for 2015-20 to the five states through which Ganga passes, to ensure adequate as well as uninterrupted water flow. Rs 7,700 crore has been spent, prominently for construction of new sewage treatment plants,” said a government statement.

Prime Minister also urged for a holistic thinking process where ‘Namami Gange’ would evolved into ‘Arth Ganga’ or a sustainable development model with a focus on economic activities related to Ganga.

Also Read: Chinese Scientists Reveal Distribution History of Endangered Trees

“As part of this process, farmers should be encouraged to engage in sustainable agriculture practices, including zero budget farming, planting of fruit trees and building plant nurseries along the banks of Ganga. Priority could be given to women self-help groups and ex-servicemen organisations for these programmes,” it added.

The meeting discussed tapping the hybrid tourism potential of the river basin area for religious and adventure tourism. “The income generated from encouraging eco-tourism and Ganga wildlife conservation and cruise tourism would help generate sustainable income streams for cleaning of Ganga,” the government said.

The meeting was attended by Union Ministers for Jal Shakti, Environment, Agriculture and Rural Development, Health, Urban Affairs, Power, Tourism, Shipping, and the Chief Ministers of UP and Uttarakhand, the Deputy Chief Minister of Bihar, the Vice-Chairman of the Niti Aayog and other senior officials. (IANS)